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Yahoo
6 days ago
- Business
- Yahoo
First Atlantic Nickel to Attend Benchmark Mineral Intelligence's GIGA USA 2025 Conference, Highlighting Atlantic Nickel Project's Smelter-Free Processing for North America's Critical Minerals Supply Chain
VANCOUVER, British Columbia, June 02, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ('First Atlantic' or the 'Company') is pleased to announce its participation at the Benchmark Mineral Intelligence GIGA USA 2025 conference, taking place June 3-4, 2025, in Washington, DC. The Company will participate in strategic meetings during this critical mineral conference to demonstrate how its Atlantic Nickel Project addresses the growing need for nickel mining that can be completely processed in North America. The Atlantic Nickel Project contains nickel in the form of awaruite, a naturally occurring, sulfur-free, highly magnetic mineral with approximately 75% nickel content. These unique properties enable direct processing through magnetic separation and flotation, eliminating reliance on foreign overseas smelting or roasting operations. This simplified mineral processing method significantly lowers energy requirements and reduces environmental impacts, strengthening the development of a resilient, domestic critical minerals supply chain. The GIGA USA conference brings together key players from across the critical minerals sector for two days of networking, dealmaking, and policy discussions. Attendees include major automakers such as Tesla, Ford, General Motors, Rivian, Mercedes-Benz, and Volkswagen; battery manufacturers like LG Energy Solutions, Samsung SDI, and Panasonic Energy; and global mining companies including Rio Tinto, Vale, Glencore, South32, and Anglo American. Government representatives from the U.S. Department of Energy, U.S. Department of Commerce, U.S. Department of Defense, U.S. Department of State, the Government of Quebec, the Embassy of Canada, and the Delegation of the European Union will also attend. Conference topics will address the expansion of the United States' lithium-ion battery gigafactory industry and the need to establish secure, sustainable supply chains for critical raw materials, including lithium, nickel, graphite, cobalt, manganese and rare earth elements. The conference addresses key areas of focus including strengthening the U.S. critical minerals supply chain through domestic production and expanded gigafactory capacity, examining policy and trade impacts, such as the Inflation Reduction Act (IRA), and enhancing national security through critical mineral independence. The conference will also focus on investment and financing opportunities for next-generation mining projects, innovations in battery technology and sustainability, and the importance of global collaboration and strategic partnerships. The Company's Atlantic Nickel Project offers a secure and reliable solution for domestic nickel production. By leveraging awaruite's sulfur-free composition, high nickel content and magnetic properties, the project enables simple processing through magnetic separation and flotation without the need for secondary processing such as smelting or roasting. Unlike traditional nickel sulfide and laterite projects that undergo energy-intensive processes creating harmful waste and emissions, awaruite's metallurgical properties enable complete domestic nickel production while eliminating reliance on overseas processing. The lower energy requirements and sulfur-free nature of awaruite result in a reduced carbon and environmental footprint. The Company remains committed to strengthening North American critical minerals supply chains, with the Atlantic Nickel Project positioned to provide a secure, reliable nickel source for North American industries including electric vehicles, batteries, defense, and stainless steel manufacturing. Conference Meeting Requests First Atlantic welcomes the opportunity to meet with strategic partners, shareholders and investors during the GIGA USA 2025 conference. Interested parties are encouraged to contact Rob Guzman at rob@ or by phone at 844-592-6337 to arrange meetings. The conference takes place June 3-4, 2025 in Washington, DC. Phase 2 Drilling Update The Phase 2 drilling program is currently underway and successfully expanding the awaruite mineralization identified in multiple drill holes during the Phase 1 campaign. Technical improvements, including optimized HQ/NQ drill configurations and enhanced drill bit selection, have enabled the current program to reach greater depths than previously achieved. The Company anticipated providing updates on the Phase 2 drill holes in the coming weeks. For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at +1-844-592-6337 or via email at rob@ Corporate Update The Company also announces that on May 21, 2025 it closed the definitive agreement dated May 6, 2025 (the 'Purchase Agreement') to acquire a 100% interest in eight mineral licenses totaling approximately 3,350 hectares. These licenses are strategically located around the Company's Atlantic Nickel Project in central Newfoundland, in the Cold Spring Pod and Coy Pond areas. Under the terms of the Purchase Agreement, the Company has issued 1,000,000 Shares at a deemed price of $0.205 per Share. These Shares are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws. And further to its May 6, 2025 news release, it closed the previously announced settlement agreement (the 'Settlement Agreement') on May 22, 2025, to settle outstanding obligations totaling $202,950 owed to an arm's length creditor (the 'Creditor') related to accounting services provided under a consulting agreement dating back to 2017. Pursuant to the Settlement Agreement, the Company has issued an aggregate of 312,500 common shares (each, a 'Share') at a deemed price of $0.32 per Share. These Shares will be released in three equal tranches over a 12-month period and are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws. Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe) Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching1. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing. The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel."3 Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining. Figure 1: Quote from USGS on Awaruite Deposits in Canada The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply5. Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries. Investor Information The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", the American OTCQB Exchange under the symbol 'FANCF' and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P21". Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at Stay connected and learn more by following us on these social media platforms: FOR MORE INFORMATION:First Atlantic Investor RelationsRobert GuzmanTel: +1 844 592 6337rob@ Disclosure Adrian Smith, a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist ( Mr. Smith has reviewed and approved the technical information disclosed herein. About First Atlantic Nickel Corp. First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6. First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to: statements regarding: the timing, scope and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the Company's projects; and expectations regarding future developments and strategic plans; Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no mineral reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws. 1
Bloomberg
14-05-2025
- Business
- Bloomberg
Cobalt Market Awaits Congo Plan That May Roil Battery Industry
A forthcoming decision by the Democratic Republic of Congo on cobalt exports could potentially send prices for the metal soaring and lead battery makers to seek alternatives, an industry group said. Cobalt has jumped more than 50% since the African nation responsible for three quarters of global output halted exports on Feb. 22. An extension of the ban or strict quotas could push the price even higher, Benchmark Mineral Intelligence said Wednesday in a report prepared for the Cobalt Institute.
Business Recorder
09-05-2025
- Business
- Business Recorder
China's copper concentrate imports at record high as more smelters prepare to open
SHANGHAI: China's copper concentrate imports reached a record high in April, spurred by an expansion of domestic copper smelting capacity that is due to come online later this year despite overcapacity in the sector. Copper concentrate imports hit 2.9 million metric tons in April, up 25% year-on-year and 22% versus March, according to Chinese customs data published on Friday. China's copper melting capacity is up a quarter since 2021 and is set to rise another 10% or so this year, according to Benchmark Mineral Intelligence (BMI), even as mine closures overseas keep supplies of concentrate, the key raw material, tight. 'The surging imports for concentrate are to meet smelters' capacity expansion plan, as they need to prepare stocks before starting operations in the latter half of this year,' a copper trader said. Copper concentrate imports year-to-date are up 7.3% to 10 million tons. Separately, China's imports of unwrought copper and copper products in April were unchanged year-on-year at 438,000 metric tons, as suppliers rushed shipments to the United States to beat impending tariffs. Analysts generally expect China's robust copper demand to draw in growing amounts of the industrial metal. However, this month, the flow of copper to the US in anticipation of US import tariffs kept China's imports flat year-on-year. Copper rallies to one-month peak on signs of improving demand This shift has fuelled a surge in US COMEX stocks to 156,623 tons as of Wednesday, up 61% since the end of March and reaching their highest since October 2018. The unwrought copper data includes anode, refined, alloy and semi-finished copper products. For the first four months of 2025, unwrought copper imports were down 3.9% at 1.74 million tons, the data showed.
News.com.au
09-05-2025
- Business
- News.com.au
Monsters of Rock: We have a tightening copper market … but it's all a little knotty
Copper prices remain strong amid tightness in physical markets US could rely on copper imports even if it encourages new mine builds Lithium surplus to run longer without curtailments: WoodMac It was once a paint by numbers exercise to read the copper market, an economic bellwether known as Dr Copper for its ability to project and diagnose shifts in the wider global economy. That comes down to its fairly obvious industrial uses. Poles and wires carry copper for its conductivity. Cabling is used in housing, infrastructure, cars – EVs especially, train lines, power plants. You get the gist. Growth is good for the commodity, recession is bad. But the current copper market has become mosaic-like in its complexity. The A-to-B plot line of a Home and Away episode has been replaced with the density of Infinite Jest. Copper prices are broadly stable and at historically strong levels amid threats to global economic growth, Benchmark Mineral Intelligence tells us in their weekly note. Three month LME copper is clocking in at US$9431/t at the moment. But prices are uneven, driven by stockpile purchases in the US where tariffs on copper imports are being feared, while stockpile draws in China also point to market tightness, curious given the broader economic environment generally and in China specifically. A 3.7% collapse on Wednesday last week from US$9440/t on the LME rebounded from US$9093/t to US$9395/t by Friday, indicating the fragility of any particular market theme right now. COMEX purchasing by US buyers has not helped the volatility. "Copper prices continue to be elevated by severe market tightness resultant from tariff induced front-loading at the COMEX, leading to backwardation at both the SHFE and LME," Benchmark says. Chinese and US economic indicators have been pointing down, normally a negative for copper. But the rush to move material to the States and strong demand for concentrate and metal in physical markets has kept a floor under prices. "As stock draw-downs in China have begun to spread to LME warehouse systems, the extent to which this supply crunch continues will be closely watched," Benchmark noted. "Although the Fed's decision on interest rates would normally be in-focus, a projected high probability (>95%) of holding rates stable mean markets will likely look more closely at alternative signals this week - such as firm commitments on US-China de-escalation." US mining Copper buyers in the United States are reliant on imports from overseas, which has led to a rush in copper demand and a major push from the US Government under Donald Trump to refire domestic production, which has slid over the past 27 years from ~1.9Mt to ~1.1Mt. This could be great news, especially with regards to permitting, for US based miners and explorers like New World Resources (ASX:NWC), Rio Tinto (ASX:RIO) and Golden Mile Resources (ASX:G88). But Benchmark warns tariffs and Executive Orders won't be able to bring the whole supply chain to the States in the near term, even if the development of large mines like Rio's Resolution and Teck's NewRange go ahead. "This could go a long way to lower the net imports of copper to US, which last year totaled well over 700,000t," Benchmark said. "Yet, an important bottleneck isn't mining or refining—it's smelting. The US currently has just 590,000tpa of smelting capacity, with only one potential project in development: the Hayden Restart, which could add 200,000tpa. In 2024, exports of copper contained in concentrate reached 325,000t, accounting for 48% of the year's total concentrate production of 674,000t. "Currently, even if the US chose to process all of its copper concentrate domestically, the existing smelting capacity would be insufficient. Without a rapid expansion of smelting infrastructure, accelerating copper concentrate projects alone won't address the gap. As a result, the US will continue exporting concentrate—only to reimport it later as finished cathode." Lithium recovery As investors continue to wait for the lithium market to rebound, one of its most bearish forecasters says curtailments will be needed to bring the market into balance. The issue is the high cost mines that need to come out of the supply chain are in China, also the market's biggest customer. That means any mine or refinery closure would be a delicate manoeuvre to pull off. WoodMac continues to see the lithium market surplus holding into the early 2030s, according to a deck prepared by its lithium research director Allan Pedersen for a forum in late April. "In our view, curtailments should predominantly come from China, which is the largest producer and where most production is suffering from low or negative margins in the current price environment," Pedersen said in a note. "However, China is also the world's biggest consumer, which presents a challenge to curtailments. What's more, increasing production can lead to lower unit costs, which incentivises producing higher volumes rather than cutting supply. "The big question for the sector is, will sufficient capital be available to survive the downturn until demand growth catches up?" It should be noted, other analysts see small deficits returning as soon as next year, including Argonaut and Fastmarkets. They think demand is growing quicker than the market realises, with EV sales growth especially in China remaining strong and battery energy storage systems grabbing a rising market share for lithium. This week, WA's newest lithium producer Liontown Resources (ASX:LTR) picked up a $15m interest free loan from the WA State Government along with a waiver of port fees and mining tenement rental rebates related to its Kathleen Valley mine until the spodumene spot price hits US$1100/t for two consecutive quarters. Miners and explorers keep on waiting. The ASX 300 Metals and Mining index rose 0.96% over the past week. Which ASX 300 Resources stocks have impressed and depressed? Making gains Resolute Mining (ASX:RSG) (gold) +18% Liontown Resources (ASX:LTR) (lithium) +16% Pantoro (ASX:PNR) (gold) +13.2% Emerald Resources (ASX:EMR) (gold) +12.6% Eating losses Patriot Battery Metals (ASX:PMT) (lithium) -7.6% Lynas (ASX:LYC) (rare earths) -6.9% Coronado Global Resources (ASX:CRN) (coal) -5.7% Adriatic Metals (ASX:ADT) (silver) -5.4% At Stockhead, we tell it like it is. While New World Resources and Golden Mile Resources are Stockhead advertisers, they did not sponsor this article.
Yahoo
01-05-2025
- Business
- Yahoo
Albemarle CEO says 'math doesn't work' for US lithium refinery project
By Ernest Scheyder (Reuters) -Albemarle's stalled plans to build the largest U.S. lithium refinery remain on hold due to the ongoing global glut of the battery metal that has dragged down market prices, the company's CEO told Reuters on Thursday. That market malaise leaves the U.S. without a major site to process lithium - the cornerstone metal of the energy transition - and essentially dampens efforts by U.S. President Donald Trump and other Washington officials to bolster the country's minerals supply chain and curb its reliance on China. The U.S. refines only small amounts of the ultralight metal and has only one lithium mine, in Nevada, controlled by Albemarle. Last year, the company paused plans to build a $1.3 billion processing plant in South Carolina due in part to overproduction from Chinese rivals. While lithium prices can vary by region and type, an index of prices tracked by Benchmark Mineral Intelligence has dropped by 74% in the past two years. "We've been wanting to build this Western supply chain. The economics just aren't there to build that plant out in South Carolina," Albemarle CEO Kent Masters told Reuters. "The math doesn't work today." The company, which posted better-than-expected quarterly results on Wednesday, has a lithium price at which it would resume the project's development, but Masters declined to name it. "We don't have the confidence to say where (the lithium price) is or where it's going, which is why we've kind of gone to the strategy we have of making sure that we can compete at the bottom of the cycle," said Masters. Western minerals supply chains may need some kind of government support in order to develop projects and offset global competition, he added. "I don't think private companies are going to be able to do it on their own," Masters said. M&A While Rio Tinto and other rivals have been buying lithium assets during the downturn, Masters said that Albemarle has yet to find an interesting target. "We don't have that war chest to go out and look at M&A activity the way we might have if prices were at a different level," he said. "If we saw some super quality resources we could go after, that might be a little different." In Chile, Albemarle is "pretty focused" on its work in the Salar de Atacama and while it considered bidding to access other salars, the company "didn't find them interesting," Masters said. Albemarle also is investing in direct lithium extraction projects in Chile and the United States, but Masters declined to say when either might progress. Amid the market turmoil, Albemarle held auctions for the battery metal as part of a bid to generate higher returns. Those auctions were paused while the company prepared for its quarterly earnings and may soon resume, Masters said. "We kind of like the idea of understanding pricing better and getting more transparency in the market," he said.
